Marianne Hatton

Recently I received this comment to an old blog entry and I wanted the chance to respond:

You real estate agents all have no clue as to why the housing market in Columbia,SC is not falling as fast as the national average, do you. Its one word: MILITARY! But be aware that that is about to change... Because of the slick talking mortgage brokers & the sales tactics you real estate agents have (any lemon lot car salesman would be proud of), our military families have been strapped to homes they can't get rid of. Note that all incoming families have been advised not to buy when stationed in the Columbia area. If it were not for the military presence in Cola, the whole city would be in deeper economic turmoil. Columbia would not have the luxury of over pricing its housing market. Builders & sellers have over estimated the "gullibility" of the buyers and it will catch up to these crooks. A lot of these builders think way too much of their houses anyway. We have one of the largest training bases in the nation, the largest portal for EVERY sector of our armed forces. And its only getting larger. Due to the economic forecast ,some of the "settling committee" have been persuading all incoming military NOT to buy. Its 2009 people. Its not going to get better for some time to come. So sit down, strap yourselves in & shut up!!! Its going to be a long, bumpy ride for all you brokers & agents!!! BTW:Its safer to rent in these times and knowing how fast personal can transition, its better not to be tied down to property.

Rebuttal to the comment above:

Columbia has ALWAYS appreciated the economic stability and investment the military has contributed. However, when you compare us to other parts of the country (plenty of stats to back this up), we did NOT over-inflate our prices. Builders built according to the demands of supply and need. The folks at Fort Jackson told us ahead of time that they were bringing in 1000 new families over the past 3 years, at about 1000 a year. These were THEIR stats. They needed housing. Builders do not build to rent houses, and the housing need was great, until now.

Its true that it is hard to sell a house in Columbia now. But I hope one would realize that a huge part of this problem is the fact that others wishing to relocate here cannot buy because THEY have a house to sell in a very bad market, such as Colorado or California, or North of us. It is not just the military affected. It is everywhere. However, I still believe that the BEST housing and the BEST place to raise a family is in a stable neighborhood...not an apartment complex. I also know for a fact that real estate is a much more stable investment than the stock market. Thru the years, real estate has made a lot of people wealthy. And I am talking about the big boys, not mortgage lenders and agents. Donald Trump sure knows the value of real estate investments...so does the Bush family. The Kennedys too and anyone else with a lot of money.

In my early years I was a single parent of two young children with no father around, I realized that one day they would need to go to college and I would need some retirement. Being self-employed (as all agents are), I could not count on government benefits or 401Ks. I put my money in real estate. It has served me well over the last 22 years, and I am worth much more today than I ever thought. Furthermore, I have not LOST any money in my investments. Can't say that for the stock market.

So I think everyone agrees on the state of the economy. We also agree that things are going to get a lot worse for awhile. I am VERY concerned about us printing all this money,which is driving down the value of the dollar every minute. I am VERY concerned that we will be paying with Euro's soon, and the dollar will be a thing of the past.

The housing market is the bone structure of our economy. We as Realtors are doing everything we can to help people sell and buy. We had a press conference at the State House last Wed. to urge lawmakers to get rid of the 6% tax to investment and rental property as well as the "point of sale" appraisal method, which is further hindering the residential and commercial market here in South Carolina. We lobby for things like this.

When Clinton was president, there was a bill introduced to do away with interest right-offs in housing. We Realtors sucessfully lobbyed against it. This would have DEVASTED our economy, and when they looked at it, they realized this was true.

So I am very sorry for those of you who do not value my profession or that hold us accountable for our housing troubles. Regardless of how one feels, Realtors are good for our economy and Columbia appreciates Fort Jackson.

Marianne Hatton

www.ISellThisTown.com

In the past few years many soldiers have been glad to receive a discharge and enter the civilian world. But with the economy lagging and unemployment increasing, these soldiers are re-upping in record numbers.

According to an article published in The State Newspaper, Fort Jackson exceeded its goal for retaining troops by 43%. WOW! And not only do they get a guaranteed job, but 70% of the re-enlisting troops got bonuses ranging from $3000- $29000. Now that's some serious money!

In Columbia, SC, where Fort Jackson is located, the housing affordability factor is also a WOW. The average priced home is around $168,000 and an average BAH ranges from $900-$1500 depending on your rank and family status. So most troops can afford to live off base and take advantage of the great schools Columbia has to offer. Furthermore, real estate is not taking the beating in the capital city of South Carolina that other parts of the country are experiencing. While there has been no appreciation in housing this past year and a half, we have not seen prices plummet.

Columbia also has a very competitive mortgage industry - with heavy emphasis on FHA and VA loans. Because of competition, some of the most attractive rates and terms can be found here. With good credit and a loan amount of $120,000 or greater, one can expect a fixed interest rate of somewhere in the neighborhood of 5.25%.

Money talks, but the command at Fort Jackson realizes that the CARE FACTOR is still a major catalyst for retaining troops. Sgt. Major Jones, chief of the Fort Jackson retention office states that these men and women who re-up will definitely deploy again. He understands that it is equally important to be concerned for them and their families. The soldiers must feel that their families are taken care of when they are in harm's way. This seems to be another part of the reason they are willing to stay.

All of these factors have played well for the retention office at Fort Jackson. The good schools and affordable housing along with great job stability has caused business to be good!!

For additional relocation information regarding Columbia,SC please call Marianne Hatton at 803-454-2906 or email to Hattonm1@aol.com Check me out at www.isellthistown.com for all Columbia listings.

The opportunities are so great here in Columbia, SC!! We have VERY good schools, a warm and friendly city, and beautiful subdivisions with plenty of shopping! We are a family-oriented city, and value the standard traditions of family and faith. All of these ingredients combine to make for a wonderful place to live!

If you are being deployed here, you will surely want to capitalize on the opportunities offered in affordable housing! Our average priced home in Columbia is around $165,000. Our home values tend to hold pretty well, even when the rest of the country has seen as much as 18% loss in some areas. HOWEVER, THE DEALS ARE STILL HERE!

The homes on the market this time of year are truly the ones with MOTIVATED SELLERS! The "we don't have to move" sellers generally take theirs off the market during the holiday season. There are lots of incentives being offered to buyers such as making a few payments for them on the front end, paying all closing costs and pre-paid items, or absorbing the first year home owner association fees. And for most of these, the pricing is extremely competitive. One example of a fabulous home at below market pricing is www.200Roundtree.com

There are also still some GREAT loan programs available in our area! We have a significant amount of FHA and VA automatic lenders who know how to structure the application to get it approved - even if there are a couple of issues with the candidate.

I have resources and information to all of these aspects of the real estate market. Feel free to contact me thru my website at www.isellthistown.com. I look forward to proving that Columbia, SC really is a great place to live!